California State Teachers Retirement System Invests Heavily in Goldman Sachs

The California State Teachers Retirement System significantly increased its stake in The Goldman Sachs Group Inc. ($GS) during the second quarter, according to a recent SEC filing.

The system's holdings in Goldman Sachs grew by an astonishing 99.7% from the previous quarter, with the company purchasing an additional 454,903,165 shares. This brings the total number of shares owned by California State Teachers Retirement System to 455,359,229.

The system's stake in Goldman Sachs comprises approximately 1.3% of its overall holdings, making it the firm's 19th largest position. The company's investment in Goldman Sachs is valued at $460,536,663,000, accounting for 156.39% of the system's total portfolio.

The significant increase in California State Teachers Retirement System's stake in Goldman Sachs comes amidst a strong performance by the investment management firm, which reported earnings per share (EPS) of $20.98 in its latest quarterly report. This surpassed analysts' expectations and marked a 39.4% year-over-year revenue growth for the company.